Occidental Petroleum Stock Jumps As CEO Vicki Hollub Reportedly Plans To Retire

• There is no firm date set for her retirement, per a Reuters report.
• The ongoing conflict in the Middle East could reshape her plans. 
• Her exit would end more than four decades at the Houston-based oil producer, where she became the first woman to become the CEO of a major U.S. oil company. 

Occidental Petroleum (OXY) shares closed more than 4% higher on Thursday after reports that its CEO, Vicki Hollub, is preparing to retire from her role. 

According to Reuters, Hollub, touted as the most powerful woman in the U.S. oil industry, plans to make a formal ‌announcement later this year. Richard Jackson, who was elevated to chief operating officer in October, is primed to take over as the CEO after Hollub's departure, Reuters reported, citing people familiar with the matter. 

There is no firm date set for her retirement, the report added, and noted that the ongoing conflict in the Middle East could reshape her plans. 

A company spokesperson did not confirm the news and told Reuters that it doesn’t comment on speculation. 

Her Tenure

Hollub’s departure would conclude over forty years at the Houston-based oil company, where she made history as the first woman to serve as CEO of a major U.S. oil firm. Before this, she oversaw Oxy's Permian Basin operations, transforming the company into one of the leading operators in the country's largest oil-producing region, the report said. 

A transitional period is expected, the report said. This could include Hollub remaining in an advisory capacity to the new CEO, or announcing she ​will step down at a future date, with Jackson ​named CEO-designate. She is expected to remain ⁠on the company's board, report added.

Retail Sentiment

Retail sentiment around OXY trended in ‘neutral’ territory amid ‘normal’ message volume. 

Shares in the company have risen 56% so far this year. 

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